RATE Group | Ethereum, XRP, and Litecoin could be bound for a steeper decline
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Ethereum, XRP, and Litecoin could be bound for a steeper decline

21 Jan Ethereum, XRP, and Litecoin could be bound for a steeper decline

Posted at 02:00h in Ethereum News by

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Ethereum, XRP, and Litecoin appear to have reached an exhaustion point following the uptrend they entered since the beginning of the year. Now, a technical index estimates that these cryptocurrencies could be bound for a correction before the continuation of the bullish trend.

Ethereum is about to pull back

Ethereum went through rally that saw its price surge over 40 percent since Jan. 3. This cryptocurrency went from trading at a low of $126 to a high of $179 on Jan. 18. Despite the recent bullish impulse, ETH seems to be preparing for a pullback at the moment.

The TD sequential indicator is currently presenting a sell signal in the form of a green nine candlestick on ETH’s 3-day chart. This technical index estimates that Ethereum could retrace for one to four candlesticks or begin a new downward countdown. A red two candlestick trading below a preceding red one candle could validate the bearish formation.

Ethereum US dollar price chart
ETH/USD by TradingView

Although a correction seems imminent, Ethereum is…

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